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Finance 11/05/2011 Net income of Ingo-Uzbekistan slips to 793.9m in 2010
Net income of Ingo-Uzbekistan slips to 793.9m in 2010
Tashkent, Uzbekistan (UzDaily.com) -- Net income of Ingo-Uzbekistan insurance closed joint stock company decreased from 1.18 billion soums in 2009 to 793.9 million soums in 2010, the financial report of the company said.

Ingo-Uzbekistan said it kept stable temps of growth of main figures of its activities. In 2010, the company claimed the fourth place on total volume of collected premiums in Uzbekistan with market share of 7.7%. The volume of gross insurance premiums made up 15.09 billion soums.

The size of aggregate profit of the company made up 5.42 billion soums, of which 66.7% fell to share of income from insurance operations, 5.9% - from investment activities, 26.9% - income from currency exchange rates and 0.4% - from other financial activity. The expanses made up 4.48 billion soums.

The company’s assets grew from 12.211 billion souyms in 2009 to 15.417 billion soums in 2010. The growth was connected with surge of current assets from 11.784 billion soums to 15.517 billion soums in the reporting period.

Own capital reached 7.35 billion soums. Share of undistributed income in own capital made up 26% (1.915 billion soums). The size of investment portfolio reached 7.47 billion soums. The charter capital was 5.089 billion soums.

Insurance reserves grew from 6.879 billion soums in 2009 to 8.598 billion soums in 2010. Current liabilities increased from 4.224 billion soums to 6.066 billion soums.

Ingo-Uzbekistan is subsidiary of the Russian Ingosstrakh open insurance joint stock company.

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